The New Nation - Internet Edition

Business Report

Markets across the country lost after two days of rally as a selling spree caused the indices to close lower.

Profit-taking led almost 70 percent of the traded issues on the country's twin bourses to fall from the previous day.

Brokerage house officials termed the sell-offs as usual after days of gains.

"A sell-off was anticipated as the market was on a bullish trend for the last two days," an official of brokerage house IDLC Securities the reporter.

Most issues in banks, mutual funds, insurance and non-bank financial institutions lost on Wednesday while the blue chip shares were the buying favourites.

Dhaka Stock Exchange's benchmark DGEN or general index shed 5.27 points or 0.17 percent to finish at 2925.97 while the DSI or all share price index ended on 2426.73, edging down 4.76 points or 0.19 percent.

The blue chip, DES-20 however, gained 10.54 points or 0.42 percent to 2500.55.

Meanwhile, huge losses in banks, non-bank financial institutions and mutual funds caused indices on the Chittagong Stock Exchange to finish downbeat.

The CSCX or selective categories index fell 23.41 points or 0.39 percent to close at 5910.44.

The CASPI or all share price index finished at 9039.50, declining 34.02 points or 0.37 percent. The blue chip, CSE-30 ended 24.68 points or 0.31 percent lower on 7896.61.

Turnover at the DSE amounted to Tk 5.11 billion from trading of 33,142,246 traded shares while the port city bourse saw 6,643,986 shares changing hands with a turnover of Tk 812.434 million.

Losers took a strong lead over gainers on the DSE by 155 to 76 with six issues remaining unchanged.

Of the traded 147 scrips on the CSE, 107 declined, 36 advanced and four held steady.

Titas Gas topped the turnover board on the DSE with trading worth Tk 926.48 million. It rose 6.30 percent to Tk 535.

Second in line, Beximco Pharmaceuticals ended on Tk 178.80, up by 4.43 percent while Beximco followed it to increase 3.30 percent to Tk 250.

Market major Square Pharmaceuticals also gained 3.35 percent to Tk 3340.75.

ACI slipped 0.46 percent to Tk 597.10.

Among the other scrips on the turnover board--Lanka Bangla Finance, AIMS 1st Mutual Fund and Summit Power also lost due to profit taking.